Range Resources (NYSE:RRC) Stock Rating Upgraded by Zacks Research

Range Resources (NYSE:RRC) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

A number of other equities analysts have also issued reports on the stock. Barclays increased their target price on shares of Range Resources from $39.00 to $41.00 and gave the company an “equal weight” rating in a research report on Monday. Morgan Stanley lowered their price target on shares of Range Resources from $42.00 to $40.00 and set an “equal weight” rating on the stock in a report on Friday, January 23rd. Royal Bank Of Canada cut their price target on shares of Range Resources from $46.00 to $44.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 14th. Weiss Ratings raised shares of Range Resources from a “hold (c)” rating to a “buy (b)” rating in a research report on Friday, February 27th. Finally, Citigroup lifted their price objective on Range Resources from $36.00 to $43.00 and gave the stock a “neutral” rating in a research note on Thursday, March 5th. Four research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Range Resources presently has a consensus rating of “Hold” and a consensus price target of $42.44.

Range Resources Stock Performance

NYSE RRC opened at $45.21 on Wednesday. The stock has a market capitalization of $10.64 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 0.40 and a beta of 0.57. Range Resources has a 12-month low of $30.32 and a 12-month high of $46.19. The business’s 50 day moving average is $38.20 and its two-hundred day moving average is $37.19. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.28.

Range Resources (NYSE:RRC) last announced its quarterly earnings results on Tuesday, February 24th. The oil and gas exploration company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.13. The company had revenue of $786.89 million for the quarter, compared to analyst estimates of $770.92 million. Range Resources had a net margin of 21.12% and a return on equity of 16.31%. Range Resources’s revenue for the quarter was up 30.9% on a year-over-year basis. During the same quarter last year, the business earned $0.68 EPS. Research analysts expect that Range Resources will post 2.02 EPS for the current year.

Institutional Trading of Range Resources

Hedge funds and other institutional investors have recently modified their holdings of the stock. Empowered Funds LLC boosted its stake in Range Resources by 2.1% during the 1st quarter. Empowered Funds LLC now owns 75,851 shares of the oil and gas exploration company’s stock worth $3,029,000 after acquiring an additional 1,563 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Range Resources by 1.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 466,796 shares of the oil and gas exploration company’s stock worth $18,639,000 after purchasing an additional 8,816 shares in the last quarter. Focus Partners Wealth acquired a new position in shares of Range Resources during the first quarter worth about $285,000. ProShare Advisors LLC grew its holdings in shares of Range Resources by 3.1% during the second quarter. ProShare Advisors LLC now owns 10,596 shares of the oil and gas exploration company’s stock worth $431,000 after buying an additional 315 shares in the last quarter. Finally, Allworth Financial LP lifted its stake in Range Resources by 196.5% in the 2nd quarter. Allworth Financial LP now owns 1,103 shares of the oil and gas exploration company’s stock valued at $45,000 after acquiring an additional 731 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

About Range Resources

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania’s Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company’s technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.